London's mayor Sadiq Khan will launch an inquiry into foreign ownership of property in the British capital which has helped push up housing costs, the Guardian newspaper cited him as saying on Thursday. "It's clear we need to better understand the different roles that overseas money plays in London's housing market, the scale of what's going on, and what action we can take to support development and...
General
Developers continue to be hungry for land. A state tender on Tuesday for a 99-year leasehold private housing site along Fernvale Road in the Sengkang area beat earlier market projections. It garnered 14 bids with the top bid at S$287.1 million or S$517.03 per square foot per plot ratio. Bidding was competitive, with the top bid coming in just 0.005 per cent higher than the second highest bid - one of...
PRICES of completed private apartments and condominium units in Singapore fell 0.6 per cent in August over the preceding month. This is according to the National University of Singapore's (NUS) August 2016 flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Wednesday. Last month's decline in the index contrasts with a 0.3 per cent month-on-month gain in July 2016,...
A 99-year leasehold private housing site along Fernvale Road in the Sengkang area has fetched 14 bids at a state tender that closed on Tuesday, Sept 27. The top bid, from a partnership between Sing Development and Wee Hur Development, was S$287.1 million, which works out to S$517.03 per square foot per plot ratio (psf ppr).This was just a tad above the next highest bid of nearly S$287.09 million...
JTC launched on Tuesday a site at Tuas South Link 2 (Plot 11) under the second-half 2016 Industrial Government Land Sales programme. The 0.50-ha site, zoned for Business-2 development, will be the third of the seven confirmed list sites for the second half of 2016. It has a 20-year tenure with a maximum permissible gross plot ratio of 1.4. Industrialists are invited to apply for the site before the...
A FLIGHT-TO-QUALITY among office occupiers is weighing down on rents and occupancies at older Grade A office buildings, where more space will be freed up as these tenants move into new prime offices. This is giving rise to a "two-tiered performance" in the prime office market, with Grade A offices seeing steeper declines in rents than the so-called "Grade A-plus" offices in the coming quarters. Average...
The latest addition to Orchard’s dynamic skyline, TwentyOne Angullia Park reinterprets urban tropical living. Designed in the midst of the lush greenery of Orchard Boulevard, each level brings out different vistas of the much beloved district in one prestigious address you could call home. Designed to reinterpret high-rise urban tropical living, Anguilla Park takes a pure, pristine and pragmatic design...
The Zhou family from Shanghai who picked up an office block at 137 Cecil Street last year has bought a 60 per cent stake in the company that owns the next-door property at 139 Cecil Street. The latest deal is said to value the 11-storey property at S$140 million. It is on a site with 99-year leasehold tenure starting Aug 20, 1981, which means the balance lease is around 64 years. Written permission...
The phrase “living the high life” will be actualized with the completion of the brand new mixed development – Stars of Kovan. Bagging the last piece of vacant land on Upper Serangoon Road, this property is poised to attract many a buyers on account of its exclusivity alone, if nothing else. The ideal location of being in the heart of Kovan, however, is not the only reason that Stars of Kovan has...
The Good Class Bungalow (GCB) market continues to buzz with activity. The latest transactions include an old freehold house along Lady Hill Road in a prime GCB location which changed hands for S$24 million. The price works out to S$1,423 psf based on the land area of 16,863 sq ft. This seems a relatively low psf price for a prime GCB location but that may have to do with the property's age - it is said...